Shares of QUALCOMM, Inc. (NASDAQ:QCOM) have received a consensus rating of “Buy” from the twenty-seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $71.97.
A number of equities research analysts have commented on QCOM shares. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Monday, July 30th. Canaccord Genuity raised their price objective on QUALCOMM from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Summit Insights upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Finally, Rosenblatt Securities upgraded QUALCOMM from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $70.00 in a report on Monday, August 20th.
QUALCOMM stock remained flat at $$64.29 during mid-day trading on Wednesday. The company’s stock had a trading volume of 15,656,298 shares, compared to its average volume of 11,885,420. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67. QUALCOMM has a 12-month low of $48.56 and a 12-month high of $76.50. The firm has a market capitalization of $105.82 billion, a PE ratio of 17.01, a PEG ratio of 2.12 and a beta of 1.66.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 25th. The wireless technology company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.30. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts expect that QUALCOMM will post 3.12 earnings per share for the current fiscal year.
QUALCOMM announced that its Board of Directors has approved a share buyback program on Thursday, July 26th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the wireless technology company to repurchase up to 34.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In related news, EVP Alexander H. Rogers sold 828 shares of QUALCOMM stock in a transaction on Friday, July 27th. The stock was sold at an average price of $63.40, for a total transaction of $52,495.20. Following the sale, the executive vice president now directly owns 7,170 shares in the company, valued at $454,578. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 854 shares of QUALCOMM stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $72.18, for a total value of $61,641.72. Following the sale, the executive vice president now owns 5,197 shares in the company, valued at $375,119.46. The disclosure for this sale can be found here. Insiders have sold 91,613 shares of company stock worth $6,300,408 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of QCOM. Aristotle Capital Management LLC bought a new stake in shares of QUALCOMM in the first quarter valued at $105,000. Moneta Group Investment Advisors LLC raised its stake in shares of QUALCOMM by 9,686.8% in the second quarter. Moneta Group Investment Advisors LLC now owns 74,282 shares of the wireless technology company’s stock valued at $105,000 after buying an additional 73,523 shares during the period. Squar Milner Financial Services LLC bought a new stake in shares of QUALCOMM in the second quarter valued at $106,000. Kiley Juergens Wealth Management LLC raised its stake in shares of QUALCOMM by 1,760.0% in the third quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock valued at $133,000 after buying an additional 1,760 shares during the period. Finally, Point72 Asia Hong Kong Ltd raised its stake in shares of QUALCOMM by 318.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,484 shares of the wireless technology company’s stock valued at $138,000 after buying an additional 1,891 shares during the period. Hedge funds and other institutional investors own 77.39% of the company’s stock.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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